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Base metal prices are down

Already that day, the London Metal Exchange have been falling value of base metals. Nickel prices have gone down, the price of lead is reduced to background reports received to increase in metal inventory in warehouses. Nickel with a three-month delivery fell in price by 1.8%, the total cost was thus 13 055 USD / ton. Prices of lead decreased by 1.3%. Aluminum and zinc show an equally lamentable result. Prices of copper and tin have not undergone any changes.

Thus Bloomberg unable to stably calculate the index value metals. China's economy shows very slow growth, causing concerns that affects the price index of industrial metals. Representatives of Goldman Sachs Group Inc. It indicates that the most worst prognosis is relatively copper. The future strengthening of the dollar and the slowdown of the Chinese construction industry will have a negative impact on its value. According to the analyst Zhang Yu of Yongan Futures Co. the latest economic indicators suggest that the Chinese economy stimulus measures have not yielded the expected results.

In early June, the price of copper has dropped to 6-week low. The main influencing factors were the decrease in investors' concerns about global economic growth. Also on prices had a negative impact of seasonal decrease in metal consumption and the strengthening of USD. At the same time the OECD — Organisation for Economic Cooperation and Development — has lowered the forecast for global economic growth. His example was followed by the IMF — International Monetary Fund — lowering the growth forecast for the US economy to 2.5% in 2015. Company BHP Billiton, a leader in copper production is not going to reduce the production of metals in turn.

On the London Metal Exchange copper for three-month delivery fell in price by 1.6%, reaching a level of 5915 USD / ton or 2.68 USD / lb. Also decreased the cost of tin, lead and nickel. In the current year LMEindeks six basic metals fell by 7%.

According to Bart Melek, head of commodity strategy for TD Securities, Toronto, does not go unnoticed desire to avoid speculative funds betting for raw materials. Elsewhere on the Comex exchange in New York futures on the red metal with the July delivery fell 1.4% to 2,687 USD / lb. Joel Crane, Morgan Stanley analysts believe that in July-September 2015 the price of copper will be around 5952 USD / ton.

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